Kevin Warsh to Be Sworn in as Federal Reserve Chair on Friday
The Story
President Donald Trump will swear in Kevin Warsh as Federal Reserve chair during a ceremony on Friday, a White House official confirmed. Warsh, hand-picked by Trump, was confirmed by the Senate last week in a nearly total party-line vote, succeeding Jerome Powell whose term expired. At 56, Warsh becomes the 11th chair in the modern era and the wealthiest person to hold the seat based on financial disclosures.
Key Facts
- President Donald Trump will swear in Kevin Warsh during a ceremony on Friday.
- Warsh was hand-picked by Trump to lead the Federal Reserve.
- The process began in summer 2025 and culminated with Senate confirmation last week in a nearly total party-line vote.
- Warsh succeeds Jerome Powell, whose term expired Friday but who continues on a pro-tempore basis until Warsh takes over.
- Warsh, 56, will become the 11th chair in the modern era and the wealthiest person ever to hold the seat, based on financial disclosures.
- He will have to divest much of his investments to comply with stringent new regulations for Fed officials.
- Trump expects the post-Powell Fed to resume lowering interest rates, as it did three times in 2025.
- Markets expect elevated inflation and a stable labor market may discourage further easing until price increases head back toward the Fed’s 2% goal.
- Powell presided over a Fed that has missed the 2% target for more than five years.
Conflicting Reports
No conflicting reports identified in the source article.
Still Unclear
No open questions identified in the source article.
Misconceptions
No widespread misconceptions addressed in the source article.
Key Figures
- Kevin Warsh – hand-picked choice to lead the Federal Reserve, age 56
- President Donald Trump – will swear in Warsh
- Jerome Powell – predecessor whose term expired
